Starting next week, Huobi will be kicking off its innovative Huobi FastTrack program with a slate of five coins; Origo (OGO), Atlas Protocol (ATP), Fusion (FSN), NKN (NKN), and Skrumble Network (SKM). Using Huobi Token (HT), our native token, users will be able to vote on which coin should be listed on Huobi Global. All those that vote for the winning coin will have their votes at least partially exchanged for the soon-to-be-launched token at rates approximately 50% off market value.
“We’ve always believed in placing as few barriers as possible between users and how or what they want to trade when it comes to digital assets,” said Ross Zhang, Head of Marketing for Huobi Group. “The idea behind Huobi FastTrack is simply a natural extension of that idea. FastTrack is also a great way for us to reward our long-time HT holders with a chance at discounted quality tokens and, at the same time, to provide much-needed exposure for some great projects. As an added bonus, it provides an additional use case for HT.”
About the Projects:
- Origo (OGO) is an innovative, privacy-focused project that supports both private transactions and privacy-preserving smart contracts. Backed by supporters like Polychain Capital, Origo functions as both private cash similar to ZCash, Monero, and Grin and has an Ethereum-like private gas fee that allows for private smart contracts. For more information: https://origo.network/
- Atlas Protocol (ATP) is building the first ever blockchain-based interactive advertising and marketing platform. Founded by former members of Google, Atlas Protocol has raised more than USD $3 million from backers like SoftBank, China Venture Capital, Baidu Ventures, Fenbushi Digital, and DHVC. For more information visit: https://atlasp.io/
- Fusion (FSN) is dedicated to building the next-generation, interoperable infrastructure for decentralized global finance. By providing companies and developers with the innovative open-source technology they need to build time and value-based applications, Fusion makes financial transactions more accessible, efficient, and transparent than previously possible. For more information www.fusion.org
- NKN (NKN) is a new kind of P2P network connectivity protocol & ecosystem powered by a novel public blockchain. Backed by advisors like Dr. Whitfield Diffie and Dr. Stephen Wolf ram, NKN’s ultimate goal is to build a decentralized Internet that allows everyone to enjoy secure, low cost, and universally accessible connectivity. For more information: www.nkn.org
- Skrumble Network (SKM) is an innovative public blockchain that is uniquely optimized for secure communication-centric connections and transactions and decentralized applications. It offers a communication layer for developers to build into any application. With no middle entity or centralized server host to censor, block, or manipulate data, Skrumble Network’s blockchain and decentralized applications aim to democratize communication on a global scale. For more information, please visit https://skrumble.network/
How Does Huobi FastTrack Work?
Each month Huobi Global will announce five projects for Huobi FastTrack listing. Using HT, users can cast varying amounts of votes for the projects in weekly elections. The project that gets the highest number of votes each week will be listed on Huobi Global the same day voting takes place. Free trading of the winning project token will open upon completion of each week’s voting session, with the simultaneous launch of USDT, BTC and HT trading pairs.
In addition, all HT voters who cast votes for a winning project in a given week will have at least some of those votes automatically exchanged for the winning tokens at rates around 50% off market value. Of this group, 10 lucky winners will be able to exchange all their HT votes for the winning tokens. The rest will be able to buy discounted tokens based on the remaining token supply in proportion to their HT votes.
Any project that fails to win majority vote in a given month will be rolled over to the following month. Any project that fails to win a majority of votes over a two-month period will be dropped from Huobi FastTrack.
In order to qualify for a given launch, Huobi users will need to hold at least 1,000 HT over the period from the previous launch to the current one, which will generally be one week. As FastTrack is an updated version of Huobi Prime Lite, the holding date for the inaugural launch of FastTrack will stretch from May 9, the date of the last Prime Lite launch.
All HT used in the voting phase that is not subsequently used in trading will be returned to users after the Huobi FastTrack launch ends. The HT used by winning voters for token purchases will be burned.
More info here: http://bit.ly/Huobi_FastTrack
Disclaimer: Huobi will not, under any circumstances, provide any trading or financial advice and Huobi users should conduct independent analysis including, where appropriate, taking third party legal, tax and financial advice. Huobi is limited to users from jurisdictions where digital asset trading is a permissible activity and no regulatory restrictions apply.